Philip M Hawley

Announced plans to retire as head of Carter Hawley Hale Stores. Age: 67 Born: Portland, Ore. Education: Received bachelor's degree in business from UC Berkeley in 1946, completed advanced management program at Harvard University in 1968. Family: Hawley and his wife, Mary, have eight children. Resume: He climbed through the ranks of Carter Hawley, joining its Broadway chain as a buyer in 1958 and rising in 1983 to chairman and chief executive of the parent company, the title he now holds.

Starting with $7.5 million in new financing, custom sofa maker Krause's Furniture Inc. announced ambitious plans Monday to revive its struggling chain of furniture stores. The company said it will open 36 new outlets and remodel 50 of its 80 existing showrooms over the next 30 months. The move is part of a push by Chairman Philip Hawley, former head of Carter Hawley Hale Stores, to update the company's image and stem the tide of losses over the last few years.

When Carter Hawley Hale Stores ventured into the rarefied atmosphere of luxury specialty stores by buying Neiman-Marcus and Bergdorf Goodman in the late 1960s and early 1970s, industry analysts warned that those volatile fashion businesses might impair profit growth. The tables turned, however, and in recent years it was department stores--the company's core business--that slid in Wall Street's estimation as the specialty stores shone. But Philip M.

He's 71, wealthy and fit. He's got 18 grandkids demanding attention. He's even put some distance between himself and the abrupt end three years ago of his big-time corporate career, though he's still being blamed for ruining the one-time retailing colossus Carter Hawley Hale Stores--depriving employees of hefty retirement savings in the process. Yet, at an age when most erstwhile industrial chieftains have slipped into a twilight of golf outings and cushy board assignments, Philip M.

Philip M. Hawley, who helped build Carter Hawley Hale Stores into the West's biggest department store chain but also presided over its near-collapse under a load of debt, said Friday that he plans to retire as chairman and chief executive, effective Jan. 31. Hawley, the patrician son of an Oregon paper mill operator, announced his departure just a day after the Los Angeles-based parent of the Broadway emerged from the protective arms of federal bankruptcy court.

Philip M. Hawley says he hopes to relinquish the helm of Carter Hawley Hale Stores in four years. But first, he says, he wants to be sure the company is on course. Hawley, lean and athletic at 65, was named chief executive in 1977 and chairman in 1983. He says his retirement plans are in line with a promise he made when the company reorganized in 1987. The board asked him to stay seven more years to see the overhaul through, Hawley says, and he agreed.

When you're born with a silver spoon, you're not supposed to fail. Yet Carter Hawley Hale, the largest department store chain in California and the West--one of the most attractive retail markets in the world--is in Chapter 11. Why? Complacency and imprudence. Carter Hawley management, led by Chairman Philip M. Hawley, failed to cope with fundamental shifts in retailing in the 1980s. And management compounded the company's troubles by its response to takeover bids in 1984 and '87.

Representatives of a key group of Carter Hawley Hale Stores creditors said Wednesday that they have accepted a sweetened, $280-million bid for their claims against the ailing retailer, opening the possibility that the chain will emerge from bankruptcy within the next eight months.

On Feb. 24, 1896, a British-born merchant named Arthur Letts opened the Broadway Department Store in a 40-by-100-foot building at 4th Street and Broadway, then the outskirts of Los Angeles. The business made Letts so rich that he bought up a huge chunk of ranchland for $2 million and called it Holmby Hills. His son later built what is today the Playboy Mansion. During the boom years after World War II, a visionary young Broadway president, Edward W.

He's 71, wealthy and fit. He's got 18 grandkids demanding attention. He's even put some distance between himself and the abrupt end three years ago of his big-time corporate career, though he's still being blamed for ruining the onetime retailing colossus Carter Hawley Hale Stores--depriving employees of hefty retirement savings in the process. Yet, at an age when most erstwhile industrial chieftains have slipped into a twilight of golf outings and cushy board assignments, Philip M.

"This is the true passing of an era. He was the last of the old-time merchandisers. Executives today are raised and trained and schooled to do the job, but they didn't come up through the trenches like Phil did. It's probably good for the company to switch its emphasis. The whole industry has changed."--Richard J. Riordan, Los Angeles attorney, investor and potential mayoral candidate. "In the late 1970s and early 1980s, he was touted as a boy wonder. . . .

Philip M. Hawley, who helped build Carter Hawley Hale Stores into the West's biggest department store chain but also presided over its near-collapse under a load of debt, said Friday that he plans to retire as chairman and chief executive, effective Jan. 31. Hawley, the patrician son of an Oregon paper mill operator, announced his departure just a day after the Los Angeles-based parent of the Broadway emerged from the protective arms of federal bankruptcy court.

Announced plans to retire as head of Carter Hawley Hale Stores. Age: 67 Born: Portland, Ore. Education: Received bachelor's degree in business from UC Berkeley in 1946, completed advanced management program at Harvard University in 1968. Family: Hawley and his wife, Mary, have eight children. Resume: He climbed through the ranks of Carter Hawley, joining its Broadway chain as a buyer in 1958 and rising in 1983 to chairman and chief executive of the parent company, the title he now holds.

At an age when many corporate titans are enjoying retirement, Philip M. Hawley is out there in the workaday grind trying to prove himself. Still. The 66-year-old chairman and chief executive of Carter Hawley Hale Stores, whose youthful appearance and Charlton Heston-like good looks belie his age, helped build the nation's sixth-largest retailing chain. But Hawley saw his empire begin to fade about 15 years ago.

At an age when many corporate titans are enjoying retirement, Philip M. Hawley is out there in the workaday grind trying to prove himself. Still. The 66-year-old chairman and chief executive of Carter Hawley Hale Stores, whose youthful appearance and Charlton Heston-like good looks belie his age, helped build the nation's sixth-largest retailing chain. But Hawley saw his empire begin to fade about 15 years ago.

Carter Hawley Hale Stores, crippled by the junk bond debt it took on four years ago to fend off corporate raiders, on Monday sought Chapter 11 bankruptcy protection from its creditors. It is one of the largest corporate bankruptcies ever in California. The Los Angeles-based company, parent of the Broadway-Southern California and the biggest department store organization in the West, now begins the complicated job of trying to get back on its feet financially.

Representatives of a key group of Carter Hawley Hale Stores creditors said Wednesday that they have accepted a sweetened, $280-million bid for their claims against the ailing retailer, opening the possibility that the chain will emerge from bankruptcy within the next eight months.

When you're born with a silver spoon, you're not supposed to fail. Yet Carter Hawley Hale, the largest department store chain in California and the West--one of the most attractive retail markets in the world--is in Chapter 11. Why? Complacency and imprudence. Carter Hawley management, led by Chairman Philip M. Hawley, failed to cope with fundamental shifts in retailing in the 1980s. And management compounded the company's troubles by its response to takeover bids in 1984 and '87.